The Power of Compassion

How Nonprofit Organizations Are Easing the Burden of Medical Debt

Article by Mel Ulle

As healthcare costs continue to rise, many Americans find themselves burdened by overwhelming and crushing medical debt. For those already struggling to make ends meet, this debt can lead to financial ruin, stress, and even bankruptcy. However, a glimmer of hope is emerging from the darkness in the unexpected form of nonprofit organizations dedicated to alleviating this burden.Often operating under the radar, these organizations are on a mission to buy and forgive medical debt. Through strategic fundraising efforts and partnerships with healthcare providers, they can purchase portfolios of medical debt for pennies on the dollar. Once acquired, instead of seeking repayment, they erase the debt, relieving thousands of needy people.One such organization making a significant impact is RIP Medical Debt. Founded in 2014 by two former debt collections executives, RIP Medical Debt has abolished over $5 billion in medical debt, helping more than 2.5 million individuals and families across the United States. Their innovative approach has garnered widespread attention and support, with donations from individuals, corporations, and philanthropic foundations fueling their mission.

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